Connor Clark & Lunn Investment Management Ltd. Has $117.64 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 617,726 shares of the information services provider’s stock after buying an additional 81,063 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Alphabet were worth $117,640,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC raised its holdings in shares of Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after buying an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC increased its holdings in Alphabet by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after purchasing an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after purchasing an additional 3,113,395 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Alphabet by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock worth $5,870,181,000 after purchasing an additional 875,480 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after purchasing an additional 1,291,274 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,682 shares of company stock worth $17,901,024. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.8 %

Shares of Alphabet stock opened at $169.00 on Thursday. Alphabet Inc. has a one year low of $140.01 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s 50-day moving average is $188.44 and its 200 day moving average is $178.02. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 20.99, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is currently 9.94%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOG shares. Scotiabank upped their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer upped their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.